NZD/USD Technical Analysis August 8, 2011

The NZD/USD pair rose on Friday, and even got high enough to retest the 0.85 mark. This former support turning into resistance is common, and we welcome this sign as it shows that the pair might be ready to fall again. We are looking for a weak candle in the area to sell. If we get a daily close above the area – we will then buy. 0.85 is the key to the future direction of this pair.

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